Since the implementation of the Indonesia-Australia CEPA three years ago, the relations between the two countries are getting stronger
Jakarta (ANTARA) - The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) had increased the value of Indonesia's trade with Australia by up to 90 percent, Indonesian President Joko Widodo (Jokowi) stated.

The president made the statement during his meeting with the Leader of the Australian Opposition, Peter Dutton, at the Admiralty House, Sydney, Tuesday.

"Since the implementation of the Indonesia-Australia CEPA three years ago, the relations between the two countries are getting stronger. Trade has increased by 90 percent, investment has also increased by 50 percent, and followed by other developments as well," President Jokowi conveyed as quoted from a statement by the Presidential Secretariat Press Bureau received here, Tuesday.

During the meeting, the head of state stated that Australia is a friend and strategic partner for Indonesia and the ASEAN.

Hence, President Jokowi also hopes for support of the Leader of the Opposition Peter Dutton to help the economy between both nations to become more substantive and strategic in the future, including cooperation in the development of the electric vehicle (EV) battery industry.

In addition, the president is expecting increased cooperation between Indonesia and Australia in the Pacific, including through trilateral cooperation.

Based on records of the Indonesian Coordinating Ministry for Economy Affairs, Australia has become Indonesia's strategic partner.

By 2022, Australian investment in Indonesia had contributed around US$524 million that played an important role in industry and job creation.

Moreover, the value of trade between Indonesia and Australia due to the IA-CEPA partnership grew 76.84 percent to US$12.6 billion as compared to US$7.15 billion in the previous year.

Minister of Foreign Affairs Retno Marsudi; Minister of State Secretary Pratikno; and Indonesian Ambassador to Australia Siswo Pramono accompanied the president at the meeting.

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Translator: Mentari Dwi G, Resinta S
Editor: Sri Haryati
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